A Fortune 500 financial technology (FinTech) company that relied on external labor suspected it was being over-billed, but it needed the data to prove it.
While workforce data often reveals surprising insights about people’s work patterns, our client was shocked to discover that most of the resources it was paying for weren’t logging in at all.
PROFILE
- Financial Technology Industry
- Services: Payments, processing services, consumer and channel management, risk and compliance, insights and optimization
- 44,000 employees
CHALLENGE
Verify the company was overpaying for outsourced teams, then recoup costs and renegotiate vendor contracts.
RESULTS AT A GLANCE…
- $12 MILLION IN COST SAVINGS
- 1.5 HOUR INCREASE IN PRODUCTIVITY
SOLUTION: SAPIENCE
The FinTech company deployed Sapience across an outsourced team of 2,500 users. The data quickly revealed that only 30 percent of workers logged in each day. Our client was paying for more than three times the number of workers engaged in projects. The company approached its vendor with this evidence and received $12 million in returned funds within 6 weeks. Bolstered by this success, the company deployed Sapience VUE®, an automated workforce analytics platform, across its internal workforce. Data revealed that productivity was lower than expected. So, our client set goals for improvement and used Sapience VUE® to measure progress, effectively increasing productivity by an average of 1.5 hours per employee, per day. The enterprise has sustained the increase over several years and continues to do so.
IMPACT
- Visibility into Outsourced Teams’ Performance
- With Sapience data, our client was able to determine how many outsourced workers logged into work each day, and how many hours were worked.
- Irrefutable Evidence
- The Sapience platform tracks data accurately and automatically, eliminating manual timesheet errors and omissions. Data provides verifiable proof of time worked.
- Immediate Outsourcing Savings
- Our client recovered $12 million in overbilling within 6 weeks of deployment.
- Accurate Vendor Comparison
- Sapience data can be used to compare the performance of one outsourced team to another, aiding in vendor selection.
- Software Savings
- After determining which apps outsourced workers used most often, our client eliminated unused software licenses, further reducing costs.
- Improved Partner Relationships
Full transparency into outsourcing efforts increases confidence that work is being completed in accordance with agreed-upon contracts, strengthening the vendor partnership.